New Delhi: The Rail Land Development Authority (RLDA), a statutory body under Indian Railways, has opened the bidding process for the lease and redevelopment of the Boulevard Road Railway Colony located in Delhi. Spanning approximately 2.156 hectares (21,568.35 sq meters), the site is set to be leased for a period of 99 years, with a minimum reserve price of INR 318 crore.
Situated along Lala Hardev Sahai Marg/GT Karnal Road, the Boulevard Road Railway Colony enjoys strategic proximity to key transport hubs such as the Tis Hazari Metro Station and the Rani Jhansi Flyover, making it a prime location for redevelopment. The area falls under the Residential Bungalow Zone and is earmarked for transformation in alignment with Delhi’s latest Master Plan and Development Control Regulations. The redevelopment project aims to optimize land utilization through a permissible floor area ratio (FAR) of 16,176.26 sq meters, facilitating the creation of modern residential and commercial spaces that meet contemporary urban living standards.
RLDA’s initiative underscores a commitment to revitalizing urban infrastructure while adhering to sustainable development practices outlined in Delhi’s urban planning framework. The invitation for bids represents a significant opportunity for developers and investors to participate in reshaping Delhi’s landscape, leveraging the city’s robust real estate market and demand for quality residential and commercial properties. The project’s strategic location and long-term lease tenure are expected to attract competitive bids from prominent real estate firms keen on capitalizing on Delhi’s growth potential.
RLDA’s proactive approach in unlocking the redevelopment potential of railway colonies reflects a broader strategy to monetize railway assets, generate revenue, and contribute to urban renewal initiatives. By inviting private sector participation, RLDA aims to foster innovation in urban design, enhance infrastructure connectivity, and deliver sustainable development outcomes beneficial to residents alike. The initiative not only promises to enhance the local environment but also to catalyze economic growth and create employment opportunities in the region, reinforcing Delhi’s status as a dynamic hub for real estate investment and urban innovation.
